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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2016
Income Tax Disclosure [Abstract] |
Schedule of Consolidated Pre-Tax Income (Loss) | Consolidated pre-tax income (loss) consists of the following:
|  | Years Ended June 30, |
|  | 2016 |  |  | 2015 |
US operations |  | $ | (2,527,545 | ) |  | $ | (3,621,392 | )
Foreign operations |  |  | 8,237,232 |  |  |  | (1,214,282 | )
|  | $ | 5,709,687 |  |  | $ | (4,835,674 | )
Components of Provision for Income Taxes | The components of the provision for income taxes are as follows:
|  | Years Ended June 30, |
|  | 2016 |  |  | 2015 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State and Local |  |  | - |  |  |  | - |
Foreign |  |  | 652,546 |  |  |  | 413,498 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State and Local |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Provision for income taxes |  | $ | 652,546 |  |  | $ | 413,498 |
Schedule of Reconciliation of Taxes at Statutory Federal Income Tax Rate Income Tax Expense Benefits | A reconciliation of taxes computed at the statutory federal income tax rate to income tax expense (benefit) is as follows:
|  | Years Ended June 30, |  |  |  |
|  | 2016 |  |  |  |  |  | 2015 |  |  |  |
Income tax (benefit) provision at statutory rate |  | $ | 1,998,390 |  |  |  | 35.0 | % |  | $ | (1,692,486 | ) |  |  | 35.0 | %
State income (benefit) taxes, net of federal tax benefit |  |  | 328,307 |  |  |  | 5.7 | % |  |  | (278,051 | ) |  |  | 5.7 | %
Foreign earnings taxed at different rates |  |  | (2,026,031 | ) |  |  | -35.5 | % |  |  | 1,655,514 |  |  |  | -34.2 | %
Change in valuation allowance for deferred tax assets |  |  | 476,646 |  |  |  | 8.3 | % |  |  | 843,390 |  |  |  | -17.4 | %
Share of net (income) loss in equity method investee |  |  | - |  |  |  | 0.0 | % |  |  | - |  |  |  | 0.0 | %
Other |  |  | (124,766 | ) |  |  | -2.19 | % |  |  | (114,869 | ) |  |  | 2.4 | %
Provision for income taxes |  | $ | 652,546 |  |  |  | 11.4 | % |  | $ | 413,498 |  |  |  | -8.6 | %
Schedule of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities as of June 30, 2016 and 2015 consist of tax effects of temporary differences related to the following:
|  | Years Ended June 30, |
|  | 2016 |  |  | 2015 |
Net operating loss carry forwards |  | $ | 14,924,107 |  |  | $ | 14,527,578 |
Other |  |  | 559,792 |  |  |  | 479,674 |
Net deferred tax assets |  |  | 15,483,899 |  |  |  | 15,007,252 |
Valuation allowance for deferred tax assets |  |  | (15,483,899 | ) |  |  | (15,007,252 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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